I just purchased my second property. My tenants bombarded me with repair requests! Any suggestions?
Dear C.P.M.,
I just purchased my second property in Inglewood, CA. As soon as I stepped foot on the property in my role as new owner, the tenants began to bombard me with repair requests! When I walked through the building during inspections (prior to purchase), everything and everybody seemed just fine. Now, suddenly, they are complaining about everything. All of their requests seem valid, but I don’t know how to put them in order or priority. Any suggestions? I need to consider my cash flow, which at the time, is pretty low. Also, the tenants of my four plex are requesting washers and dryers in the long defunct laundry room. The old machines in the room were vandalized and I’m reluctant to buy new ones. Should I just leave that situation alone? Am I obligated to supply them with laundry facilities?
Sincerely,
Efrain R.
Dear Efrain,
Let’s start at the beginning. Never introduce yourself as the owner. To some tenants this just means that you are rich and need to give them what they want. Introduce yourself as an employee for the owner and say you are there to introduce yourself as the responsible party. Tell them that you are there to meet them and to make up a schedule for regular maintenance and that you also want to know what repair work they want and need. Tell them that you are not promising anything only making up a list to present to the ‘owner’. Then set up the budget to get the money necessary to fund that budget. As to the priority, you must take care of health and safety items first then do cosmetic work to improve the curb appeal. Later you can set up your schedule of maintenance items. Remember that for each dollar of maintenance you do you will save 15 dollars in repair costs. Cash flow comes from well maintained buildings, not from slum properties. Deferred maintenance is more expensive in the long run.
As to the laundry room, there are two answers here: financial and legal. The financial part is easy. If your tenants want it and use it, then do it. There are ways to get this done without using your cash. The second part is a question to ask your attorney or read the contracts you have with your tenants. If your contracts say your will provide a laundry, then provide a laundry you must. Hope this helps you. Good luck. Tom Loegering C.P.M.
